Funds inflow boosts Sensex, Nifty50 to record highs (Market Review)

Jan 13, 2018 (4 months ago)

IANS

Mumbai, Jan 13 : Consistent investments by domestic institutions propelled the key Indian equity indices -- the Sensex and the Nifty50 -- to close the week's trade at record high levels, continuing their winning streak for the sixth consecutive week.

"Further, US investors remained optimistic on strong economic growth outlook led by better than expected quarterly earnings," Nair added.

On the currency front, the rupee weakened by 26 paise to close at 63.63 against the US dollar from its last week's close at 63.37.

In another economic development, the Union Cabinet this week opened up Air India for foreign investors and brought in changes in key sectors by allowing 100 per cent foreign investment in single brand retail and construction development through the automatic route.

"Besides spurring growth in the economy, this step is likely to contribute to growth of investment, income and employment," Aggarwal said.

"Sectorally, the top gainers were the realty, IT, media and metal indices. The top losers were the PSU bank, infra and auto indices," Deepak Jasani, Head - Retail Research, HDFC Securities, told IANS.